Today I’m discussing the basics of the merchant services industry for those of you who are already sales professionals. If you are already involved with credit card processing, this post will probably be too basic for you. If you are brand new to the industry or considering a career change, this series will be helpful to you in understanding the industry.
One great asset of the merchant services industry is that it offers both upfront income (cash flow) and long term residual profits. Most sales positions will offer either one or the other. For example in real estate sales you might make 2-4 thousand dollars when you sell one house, but there are times when you have no income in between sells. On the flip side is network marketing where there are many residual income possibilities, but it’s very difficult to keep food on the table without some upfront compensation while building the residual.
One of the strongest incentives for sales professionals to join the merchant services industry is the opportunity to earn both upfront income and long term residual income. In the next post I’m going to answer the question, What is credit card processing anyway? I’ll give a little background and history of merchant services. Following that post I will discuss compensation, and the process of commission. So stay tuned over the next couple days!
James Shepherd.
Read previous post: How to deal with the objection “I am with my local bank”?
How to deal with the objection “I am with my local bank”?
Read next post: “How Credit Card Processing Started” – Part 2
“How Credit Card Processing Started” – Part 2
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